With Bitcoin Down Big, Try This Highflying Bank Stock
It's been a rough few months for crypto investors. The biggest disruptive currency, Bitcoin (CRYPTO: BTC), is down more than 40% from its highs earlier this year. Meanwhile, the ultimate legacy financial industry, banking, has been on a tear. One high-profile example is Western Alliance Bancorporation (NYSE: WAL). The company has benefited from rising demand for homes, triggered by record low interest rates -- which are also driving up average home prices, meaning buyers need to take out bigger mortgages. Analysts are expecting Western Alliance to deliver record earnings in 2021.
Fiat currency versus cryptocurrency is arguably the most divisive subject in finance right now. But proactive investors might benefit from having exposure to both. Crypto investors looking to diversify might find Western Alliance a great buy.
Source Fool.com
